Instrument: AUDUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 0.68096 with take profit at 0.68184
Bearish Preference:
A sell position is envisaged if the price trades below 0.67865 with take profit at 0.67766
Fundamentals:
2:30 PM Monetary Policy Meeting Minutes
Comment:
The Australian Dollar has eased lower to start Monday after a stellar rally last week that posted a 4-month peak. Rock solid jobs data revealed an unemployment rate of 3.6% and has opened the prospect of an RBA hike in a fortnight’s time. The interest rate market is pricing around a 50-50 chance of a 25 basis point lift at their monetary policy meeting on July 4th. AUD/USD shot to a high shy of 69 cents last week, not far from a peak of 0.6920. Those levels might offer resistance should the rally resume.
Analysis: SCRUM Team